Articles
Valentine’s Day Consumer Preferences: Opportunities for Imports

Valentine’s Day is one of the most important dates for the market. According to the Mexican Internet Association, this is emerging as the fifth most important for Mexican commerce, only behind Christmas, Hot Sale, El Buen Fin and Mother’s Day.

Last year, a month before the start of confinement in Mexico, the Confederation of National Chambers of Commerce, Services and Tourism (Concanaco) estimated an economic spill of more than 22.8 billion pesos for February 14, with growth in sales of 3.2% compared to the previous year.

According to a 2019 Nielsen report, the items that reflect the greatest increase in sales during this holiday are: candles (112%), chocolates (69%), beers (33%), popcorn (29%) and French fries (28%). These data reveal that, before the Covid-19 pandemic, Mexican consumers preferred to make an investment in the generation of experiences rather than in material goods. However, this trend has changed.

In its 2021 Season Guide, the Mexican Online Sales Association reports that the items with the highest percentage of purchase intention for this year will be: clothing (32%), fragrances (23%) and chocolates (18%); while gastronomic experiences (17%), travel (9%) and wellness (6%) will have less preference.

Although of the total chocolate consumed in Mexico, only 25% comes from abroad, this change in consumer preferences on Valentine’s Day may represent an opportunity for clothing and fragrance importing companies, since a significant percentage of the products belonging to these Categories sold in Mexico are imported.

As well as on this first important date of the year, the retail sector must adapt to new consumer trends and change its strategies to satisfy customer demands.

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